Apple’s market value rose by almost $200 billion in a single day after a week of slump, the biggest increase in the company’s history.
At the end of last month It revealedthat Apple has begun to cut costs, with several sources confirming that recruitment in almost all departments has been suspended. Only the most important departments, such as some of the R&D divisions, continue to recruit.
Investors reacted negatively to the appearance of this information, the price of Apple’s shares fell from $151 to $139, and the company’s market value decreased by $97.7 billion overnight.
US inflation data for October, released on November 10, came in lower than expected, pushing up the stock market and US tech share prices. Apple shares rose 8.9% to $146.87 and the market value rose $190.9 billion on the day.
Apple surpassed Amazon’s $190.8 billion record it posted in February this year, making it the biggest one-day market value increase in US-listed company history.